Societe Nationale de Financement

Société générale de financement (SGF) was a Quebec state-owned entity dedicated to fostering economic expansion within the province. It specialized in providing crucial financing for projects and enterprises that did not meet the stringent criteria of traditional commercial banks, often involving the acquisition of company shares and bonds to stimulate industrial and commercial development. Its operational approach centered on strategically investing to support local industries and assert Quebecois capital control in key sectors.

The SGF was established on July 6, 1962, by the Quebec government, with Jacques Parizeau, then a prominent civil servant, counted among its founders. The foundational insight stemmed from the need to create a dedicated mechanism to propel Quebec's economic growth during the Quiet Revolution, addressing a gap in the financing landscape for promising ventures vital to the province’s industrial fabric.

The organization served industrial and commercial enterprises throughout Quebec, particularly those requiring patient capital to realize their growth ambitions. Its long-term vision was rooted in strengthening the Quebec economy and ensuring local ownership and development of its industries. The SGF aimed to cultivate a robust and self-reliant economic environment for the province.